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Half the problem is miss information by the media including this unfortunately

The LINZ report gave us all the information we need. It is just how nz media choose to report it which is the issue.per the LINZ report
- 4% buyers non resident
-35% buyers temp visa workers and foreign students.
Total foreign buyers 39%

The recent stamp duty in Australia is applied to foreign persons. So 39% would pay the tax. So gore is similiar in that permanent citizens pay less than everyone else.

In nz for some bizzarre reason the media go on about non residents only. The true amount of foreign buyers should include temp visa workers and foreign students. 39%
Foreign students and temp.visa workers are not permanent citizens so why do they have equal right on property purchases.

A 15% stamp duty on foreign persons would benefit nz in 2 ways
1. Reduce demand dramatically from one of the largest group on buyers
2. Any tax collected can help pay for the infrastructure NZ so badly needs.

I would apply the same amount of stamp duty in investors who make up 46% of buyers.

Madness that so much demand coming from these two groups no wonder FHBs are struggling and prices are so high. Nz has the lowest property purchase tax in the world . Zero%.

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